London, 30 November 2022 – Impax Asset Management (“Impax”), the specialist asset manager investing in the transition to a more sustainable global economy, today announces that Karen Cockburn has been appointed as Chief Financial Officer (“CFO”) with effect from January 2023, when Charlie Ridge is set to step down after more than fourteen years at Impax.
Having joined as CFO Designate in October for a phased handover with Charlie, Karen will lead the Finance function, including Investor Relations, have oversight of Governance arrangements and the Legal function, and will be a member of Impax’s Executive Committee.
Karen is a qualified Chartered Accountant with over 25 years’ financial and operational experience in financial services. Karen was transformation CFO at Virgin Money plc, focused on the integration of Virgin Money and Clydesdale Banking Group. Previously, she spent nine years at Aegon in various strategy, transformation and finance leadership roles, latterly as Chief Financial Officer of Cofunds. Having qualified with KPMG, she spent her early career with GE Capital and Lloyds Banking Group. Karen is also a founder and board member of a digital start-up, Legado Technologies Ltd.
After the handover period, Charlie Ridge will continue to support Impax as Special Adviser from January until December 2023.
In due course it is anticipated that Karen will join the Impax Board as an Executive Director. This is expected to be following the conclusion of the Company’s AGM, subject to receipt of regulatory approval in relation to her appointment as a director of the Company’s FCA regulated subsidiaries.
Ian Simm, Founder and Chief Executive, Impax, said: “Karen is a highly experienced professional who is perfectly placed to take over as Impax’s Chief Financial Officer. She has demonstrated an excellent combination of energy, passion, commercial pragmatism, entrepreneurial flair and people skills. We are thrilled to have her on board as we continue to build our leadership team.
“I would like to thank Charlie for the dedication that he has shown during his time as Chief Financial Officer at Impax and for his excellent contribution to communicating with our shareholders over the past 14 years. We are pleased that he will continue to support Impax as Special Adviser so that we benefit from the vast institutional knowledge he has amassed over his years with us.”
Charlie Ridge said: “My time at Impax has been both fulfilling and exciting, and I hand over the CFO role to a superb successor in Karen Cockburn. I will remain involved as an adviser throughout 2023 and look forward to seeing the business flourish”.
Karen Cockburn added: “I am very much looking forward to taking on the role of Chief Financial Officer and building on Charlie’s work to ensure that Impax is future-fit and well equipped to meet our growth ambitions.”
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Founded in 1998, Impax is a specialist asset manager, with approximately £37.4bn / US$42.9bn in Assets under Management as at 31 October 2022 in both listed and private markets strategies, investing in the opportunities arising from the transition to a more sustainable global economy.
Impax believes that capital markets will be shaped profoundly by global sustainability challenges, including climate change, pollution and essential investments in human capital, infrastructure and resource efficiency. These trends will drive growth for well-positioned companies and create risks for those unable or unwilling to adapt.
The company seeks to invest in higher quality companies with strong business models that demonstrate sound management of risk. Impax offers a well-rounded suite of investment solutions spanning multiple asset classes seeking superior risk-adjusted returns over the medium to long term.
Impax has approximately 270 employees across its offices in the United Kingdom, the United States, Ireland and Hong Kong, making it one of the investment management sector’s largest investment teams dedicated to sustainable development.
Impax Asset Management Group plc includes Impax Asset Management Ltd, Impax Asset Management (AIFM) Ltd., Impax Asset Management Ireland Ltd, Impax Asset Management LLC, and Impax Asset Management (Hong Kong) Limited (together, “Impax”). Impax Asset Management Ltd, Impax Asset Management (AIFM) Ltd and Impax Asset Management LLC are registered as investment advisers with the U.S. Securities and Exchange Commission (“SEC”), pursuant the Investment Advisers Act of 1940 (“Advisers Act”). Registration with the SEC does not imply a certain level of skill or training.
Impax is a U.S. registered trademark of Impax Asset Management Group Plc.